Bulgaria: Electric Hair Dryer Market 2024

Electric Hair Dryer Market Size in Bulgaria

The Bulgarian electric hair dryer market skyrocketed to $X in 2021, increasing by 38% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Electric Hair Dryer Exports

Exports from Bulgaria

In 2021, shipments abroad of electric hair dryers increased by 72% to X units, rising for the third year in a row after two years of decline. Over the period under review, exports posted a prominent expansion. The pace of growth was the most pronounced in 2016 when exports increased by 259%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, electric hair dryer exports declined to $X in 2021. In general, exports posted prominent growth. The most prominent rate of growth was recorded in 2016 when exports increased by 525% against the previous year. The exports peaked at $X in 2020, and then dropped slightly in the following year.

Exports by Country

Italy (X units) was the main destination for electric hair dryer exports from Bulgaria, with a 44% share of total exports. Moreover, electric hair dryer exports to Italy exceeded the volume sent to the second major destination, Greece (X units), threefold. The third position in this ranking was held by Georgia (X units), with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume to Italy stood at +45.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+47.2% per year) and Georgia (+41.4% per year).

In value terms, Italy ($X), Greece ($X) and Romania ($X) were the largest markets for electric hair dryer exported from Bulgaria worldwide, with a combined 69% share of total exports. Georgia, Israel, Poland, Kosovo, Serbia and North Macedonia lagged somewhat behind, together accounting for a further 22%.

Among the main countries of destination, Kosovo, with a CAGR of +481.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electric hair dryer export price stood at $X per unit in 2021, shrinking by -44.2% against the previous year. Overall, the export price, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2019 an increase of 112%. The export price peaked at $X per unit in 2020, and then declined rapidly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Romania ($X per unit), while the average price for exports to North Macedonia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kosovo (+42.6%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Hair Dryer Imports

Imports into Bulgaria

In 2021, after two years of decline, there was significant growth in overseas purchases of electric hair dryers, when their volume increased by 52% to X units. Over the period under review, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, electric hair dryer imports skyrocketed to $X in 2021. Overall, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +9.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +110.3% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Germany (X units) and Hungary (X units) were the main suppliers of electric hair dryer imports to Bulgaria, together comprising 65% of total imports. These countries were followed by Slovakia, Romania, Turkey, Italy, the Czech Republic, Austria and Greece, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +66.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electric hair dryer suppliers to Bulgaria were Hungary ($X), Germany ($X) and China ($X), with a combined 56% share of total imports. These countries were followed by Romania, Slovakia, Italy, the Czech Republic, Turkey, Austria and Greece, which together accounted for a further 33%.

Among the main suppliers, Turkey, with a CAGR of +61.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average electric hair dryer import price stood at $X per unit in 2021, dropping by -10.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2019 an increase of 29%. Over the period under review, average import prices reached the maximum at $X per unit in 2020, and then fell in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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